Brick Duplex with Two
For Sale
$199,900
439 29th Place, Tuscaloosa, AL 35401
Residential, Tuscaloosa, AL
Property Size1,800 SF
Lot Size0.16 Acres
Price / SF$111.06
Days on Market93
Property Features for 439 29th Place
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bathroom 4, Bedroom 3, Bathroom 3, Bedroom 4, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2
Parking features
Driveway
Interior features
BreakfastArea
Appliances
ElectricWaterHeater, WaterHeater
Subdivision
University Manor
Elementary school
Skyland
Middle school
Eastwood
High school
Bryant
Directions
Head north on Greensboro Avenue (US-82/US-11) toward downtown Tuscaloosa, Greensboro Avenue for approximately 2.5 miles, turn right onto 29th Street, turn left onto 4th Avenue East, turn right onto 29th Place, 439 29th Place will be on your right
Standard status
Active
APN
31-07-36-2-002-003.000
Size
1,800 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
Lot 42 In University Manor Subd
Legal Description
Lot 42 In University Manor Subd
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1973
Floors in Building
2
Building materials
Brick
Roof type
Shingle, Composition
Architectural style
Other
Listing Agency:
RE101-Real Estate
(205) 469-6084
Listed By:
Latonya Bobo
(205) 317-6732
Added: Jun 15
Changed: Sep 13
Last Checked: Sep 15 at 1:06AM
MLS# 175507
Copyright © 2026 West Alabama Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,800-square-foot duplex contains two separate units, each with two bedrooms and 1.5 bathrooms. Both residences use a two-level layout, with living space, kitchen, laundry, and a half bath on the first floor; the bedrooms and full bathroom are upstairs. Brick construction, central heating and cooling, driveway parking, public water, and composition shingle roofing are among the property’s physical features. Built in 1973, the property occupies 0.16 acres at 439 29th Place in Tuscaloosa.
Both units are occupied under leases that extend through 2027, and the sale remains subject to those existing agreements. The property is positioned near downtown Tuscaloosa and Greensboro Avenue, with nearby shopping, dining, entertainment, and access to major roadways.
Both units are occupied under leases that extend through 2027, and the sale remains subject to those existing agreements. The property is positioned near downtown Tuscaloosa and Greensboro Avenue, with nearby shopping, dining, entertainment, and access to major roadways.
Key Highlights
- Two‑unit duplex totaling 1,800 square feet on a 0.16‑acre lot
- Each unit includes 2 bedrooms and 1.5 bathrooms
- Two‑story floor plans with living areas downstairs and bedrooms upstairs
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,258
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$325,160
$325.2K
Cap Rate 7%
$232,257
$232.3K
Cap Rate 9%
$180,644
$180.6K
Market Conditions
NOI Build-Up for 1,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$24.8K $13.80/SF
− Vacancy
−$1.6K −$0.90/SF
EGI
$23.2K $12.90/SF
− OpEx
−$7.0K −$3.87/SF
NOI
$16.3K $9.03/SF
Area
Tuscaloosa, AL
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$325,160
Cap Rate 7%
$232,257
Cap Rate 9%
$180,644
Alternative Uses
Best Use
Multifamily LT 5
$232.3K
$203.2K – $271.0K
NOI $16,258 @ 7.0% cap · market cap 8.13%
Second Best
Apartment 5plus
$208.5K
$182.5K – $243.3K
NOI $14,598 @ 7.0% cap · market cap 7.30%
Theoretical Best
Office A
$432.6K
$378.5K – $504.7K
NOI $30,279 @ 7.0% cap · market cap 15.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
250
Businesses Nearby
Explore this area
Business Placement
Demographics for 35401, AL
41,852
Population
19,517
Households
2.1
Avg Household Size
26
Median Age
27%
College-Educated
85%
High-School Grad
40.1 sq mi
ZIP Area
1,044
Density / Sq Mi
$30,031
Median Household Income
$13,041
Median Earnings
$911
Median Rent
$141,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-story layouts place living and service areas downstairs, with bedrooms and full baths arranged on the upper level.
Where is this duplex located?
The property is located at 439 29th Place Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,800 square feet on a 0.16‑acre lot; Each unit includes 2 bedrooms and 1.5 bathrooms; Two‑story floor plans with living areas downstairs and bedrooms upstairs
